The firm purchased the interest in 5 and 7 Waterside Crossingfrom USAA Real Estate Company. The office buildings are located inGriffin Center, an office building complex situated on 650 acres ofland in Windsor, CT. Griffin Land previously held a 30% interest inthe 5 and 7 Waterside Crossing buildings. The firm says it has alsoentered into a commitment with a bank for a permanent mortgage onthe buildings. The mortgage is expected to close later this month.However, the company refused to divulge the purchase price for theremaining interests in the two properties.

Anthony Galici, chief financial officer of Griffin Land &Nurseries, says that the two buildings are approximately 95%occupied. Major tenants in the buildings include TRC Environmental,which leases 40,000 sf of space; The Hartford, which hasapproximately 35,000 sf of space and Rattel Medical Corp., whichhas a presence in both buildings. The firm leases approximately45,000 sf of space.

Griffin Land helped master plan the Griffin Center office park,which currently consists of approximately 1.5 million sf ofexisting space.